Murray Math Lines 18.05.2012 (USD/JPY, USD/CAD, AUD/USD)

Analysis for May 18^th, 2012

USD/JPY

After rebounding from the 3/8 level, the market continued moving downwards and broke the local minimum. The forecast of the price movement is still bearish. The short-term target is at the 0/8 level.



Yesterday the Super Trends’ lines formed “bearish cross”. The price may continue falling down. There is a possibility that the pair may break the 0/8 level and continue moving downwards.

USD/CAD

A significant ascending movement made by the USD/CAD currency pair allowed me to move the stop on my buy order into the black. Right now the market is being corrected, but the price may start growing up again and even break the 8/8 level.



The lines at the H1 and the H4 charts are completely the same. The correction, which is taking place right now, may be supported by the Super Trend’s line. Most likely, the price will reach a new local minimum in the nearest future.

AUD/USD

Australian Dollar was about to reach the 0/8 level when the correction started. However, it won’t take much time. There is a possibility that the bears may try to break the 0/8 level. If they succeed in doing it, the price will continue falling down.



The lines at the H1 and the H4 charts are completely the same. The correction may continue during Friday, but next Monday the price may start moving inside the descending trend again.